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View Full Version : Look, Another Nickdawgy Car Thread... Grab The Popcorn!


nickdawgy
04-18-12, 05:27 PM
Ok so you all probably have read my stories about going to the Honda dealer in 2005 and last year to get a new Civic. I had a less than stellar experience (or if you ask Deftones and several others, I got "raped") but ended up with a reliable car.

Now here is my question for this thread. I promise if you guys say "do not do this" I will listen this time. This is more of a "what if" type scenario.

Ok, here we go...

The 2012 Civic EX-L we have now, we owe about 17k on it. It's 11 months old (got it in May 2011) and has about 10k in miles.

My wife and I are looking to expand the family further (scary, I know right?) and also move into a new and bigger place, so we thought about maybe saving money.

We're not in debt (unless you count the car, I guess) and have a steady income, so it's not a huge deal if we don't change anything.

So my question is, if I walked into a dealer this week and showed him the car, looks brand new, even still smells brand new, would he lowball me and offer me like 13k or something? Would there be any way to break even, maybe trade it in, pay the old car off and then look at a 2011 or cheaper 2012 model like a Hyundai or something?

We're paying $536 a month at 20% interest... hold on, pausing for "you got raped" jokes......

Ok, and obviously anything lower would be great. Is this possible? I think my wife said our credit score is right around 600 now, I forget what it was when we got the Civic, had to be lower, right?

The bottom line is if we could trade in the Civic and get something comparable even a year or two older, for a lower monthly payment, it could be worth looking into.

I like the Civic, it's a great car and Honda's have been good to us (knock on wood) so far. But if I do all this and end up with a 2011 model and only paying $10 less a month, it's not worth it.

Thoughts?

kvrdave
04-18-12, 05:44 PM
You will get raped again. Look to refinance the car with your bank and automatic payments. Don't trade in because you will be lowballed, and you will end up paying too much for the used car. You will be double raped.

NORML54601
04-18-12, 05:45 PM
You're never going to get what it's worth from a dealer. Sell it privately if you want to get rid of it.

cpgator
04-18-12, 05:46 PM
You probably answered it in your other thread, but why didn't you just lease a car? Paying almost $550 for a Civic is crazy.

bunkaroo
04-18-12, 05:46 PM
Yeah gotta re-fi that thing.

nickdawgy
04-18-12, 05:48 PM
Okay, so stick to the original plan and re-fi. Got it.

Should I try this year or wait another year and get my credit score up higher?

Oh and I never thought about leasing. I guess I just figured I'd end up going over the mileage or something.

Once the Kia breaks down (which could be soon if you read my borrowing thread) I might consider a lease.

cpgator
04-18-12, 05:51 PM
Okay, so stick to the original plan and re-fi. Got it.

Should I try this year or wait another year and get my credit score up higher?

Oh and I never thought about leasing. I guess I just figured I'd end up going over the mileage or something.

Once the Kia breaks down (which could be soon if you read my borrowing thread) I might consider a lease.

Re-fi now if you can get a better rate, which you should be able to.

nickdawgy
04-18-12, 06:03 PM
How often can you re-fi?

If I knocked it down now, would I be able to do it again in a couple years?

What are the best refi sites?

kvrdave
04-18-12, 06:16 PM
As often as you want. See if you can get it down now, see again in a year or two. Check with your bank first. Then just google car refi

TomOpus
04-18-12, 06:20 PM
My wife and I are looking to expand the family further (scary, I know right?) and also move into a new and bigger place, so we thought about maybe saving money.I think when you haven't posted a financial thread in two years, it will be safe to move onto your other plans :D

Dan
04-18-12, 06:21 PM
My wife and I are looking to expand the family further (scary, I know right?)
Don't do this.

and also move into a new and bigger place,
Or this.

so we thought about maybe saving money.
Just do this.

Baby steps, man. Baby steps.

movie diva
04-18-12, 06:26 PM
Get your credit score up, to do that pay your car note on time or early not a week late, refi the car if you can, and pay that thing off.

mndtrp
04-18-12, 06:40 PM
If by "move into a new and bigger place" you mean getting a mortgage, get your credit score up first. Hell, even if you aren't getting a mortgage, get your credit score up.

Look into refinancing your current car. Try your bank, try a credit union. If it's not good enough this month, try again in 6 months.

nickdawgy
04-18-12, 06:56 PM
No, actually we just got a little duplex. Same as we were paying before, and alot bigger.

In fact, I'm about to start a thread about moving out of the old apartment. The fun continues!

Shazam
04-18-12, 06:58 PM
I think at this point you should just set all your cars on fire and collect the insurance.

nickdawgy
04-18-12, 07:05 PM
:lol:

adrenaline78
04-18-12, 07:13 PM
contact your bank tomorrow and refi the thing. There is no reason to pay 20% when you have a good credit score. (or even a bad credit score)

crankyman
04-18-12, 07:18 PM
they make a 20% auto loan? holy shit.

jfoobar
04-18-12, 07:25 PM
they make a 20% auto loan? holy shit.

Yeah, my question also. That's even high for a vig from a guy named "Vinnie."

focker
04-18-12, 07:26 PM
I think at this point you should just set all your cars on fire and collect the insurance.

... with the father-in-law inside.

Th0r S1mpson
04-18-12, 07:28 PM
When you refi tell them you live in your car and see if they'll do a 30 year mortgage.

nickdawgy
04-18-12, 07:34 PM
contact your bank tomorrow and refi the thing. There is no reason to pay 20% when you have a good credit score. (or even a bad credit score)

I think we tried to refi through the credit union back in May when we got it but were denied.

crankyman
04-18-12, 07:46 PM
that's a pretty expensive honda civic. and they hold their value pretty well. i'd recommend a re-fi like others have said and drive it for 10-12 years or until the doors fall off. after it's paid for in 5 years, keep making 'payments' on it into a bank account and have a very large down payment on a new car when this can literally no longer be driven (kinda like your kia).

Deftones
04-18-12, 08:18 PM
I can only say this thread deserves another rotfl

glassdragon
04-18-12, 08:39 PM
Don't talk about Nickdawgy getting screwed in the butt too much. Mhg might show up, he's like beetlejuice in that way.

nickdawgy
04-19-12, 12:36 AM
I can only say this thread deserves another rotfl

OMG :lol: rotfl :lol: rotfl

Deftones, you kill me.

Make another rape joke :D

Come on!

crankyman
04-19-12, 05:40 AM
i bet some otter closer to you would loan you the money at a tremendous savings.....say....like 15% interest.

RunBandoRun
04-19-12, 07:21 AM
My current car is paid off, and I refinanced twice.

The only thing to do when you're upside down on a car is pay it off as fast as you can. Don't try to trade it, you'll get screwed again.

I'd say don't move, too, but looks like you already have.

DarthVong
04-19-12, 07:27 AM
You have too much negative equity in that car. re-fi and pay it off. It usually takes about 18 months of paying your car note on time to improve your credit score.

20% is high. I'm guessing your score was around 560 to get that rate.

Just to give ya an idea for 536 a month you could lease an Explorer or an Edge limited for that amount. Those run about 40k

nickdawgy
04-19-12, 12:30 PM
Yeah, I know it was high. I used to say I'd never pay that amount :lol:

Anyhow, thanks for all the advice (and jokes). I'll get ahold of the bank and see what they say about refi.

superdeluxe
04-19-12, 12:39 PM
Get the CRV from your in laws and then sell the Civic.

Shazam
04-19-12, 01:25 PM
Bring your wife to the bank, make sure she's wearing something very sexy.

Rob V
04-19-12, 01:30 PM
http://www.thelogofactory.com/logo_blog/wp-content/uploads/2010/04/ah-jeez-not-this-again.jpg

D.Pham4GLTE (>60GB)
04-19-12, 02:50 PM
everything is negotiable when buying a car, even interest. i was able to get them to drop the interest rate in half when helping my mom to buy a car a few years ago. of course, if you have crap credit, don't expect a good rate, but it doesn't mean that you can't bargain a little. if you're desperate, they will sense it and feed off of it. with that said, i suggest you keep the civic, the first year is the worst in depreciation, and if your credit score hasn't increased dramatically in a year, then you'll probably get a similar rate. what you need to do now is to save and pay off the car asap.

here's my car buying experience if you are interested in reading it.

http://forum.dvdtalk.com/other-talk/536885-so-wanted-share-my-car-buying-experience.html

Shazam
04-19-12, 03:36 PM
The problem with him was his terrible credit rating. No one was going to give him a decent rate with his credit worthiness. Heck, I financed my car at 2.99% without even trying.

GreenMonkey
04-19-12, 08:17 PM
Even if his credit rating is terrible, he doesn't have to do 20%.

My credit rating is probably as bad as nickdawgy's (Chapter 7, foreclosure) and our credit union is willing to do 12.5% as long as the car isn't too pricey, and we are only financing the clean-trade in value on the car. And they said if our credit score improves in 6 months, we can refinance at a lower rate. If you're not trying to make a bone-headed payment and go way overboard on the car, you can certainly do better than 20%.

I did once get a loan like Nickdawgy - I was 18 and stupid and really wanted a car I shouldn't have been buying - Ford Motor Credit did the loan - but I quickly refinanced from 22% to 6% about 9 months into the loan with my credit union. And I was 18 with no credit whatsoever.

DarthVong
04-19-12, 10:41 PM
Don't feel too bad. I just sold a used Focus Titanium to a customer at 24.5% APR and he was happy to get it. MUAHAHAHAHA! I love selling cars.

Shazam
04-19-12, 11:40 PM
Even if his credit rating is terrible, he doesn't have to do 20%.

My credit rating is probably as bad as nickdawgy's (Chapter 7, foreclosure) and our credit union is willing to do 12.5% as long as the car isn't too pricey, and we are only financing the clean-trade in value on the car. And they said if our credit score improves in 6 months, we can refinance at a lower rate. If you're not trying to make a bone-headed payment and go way overboard on the car, you can certainly do better than 20%.

I did once get a loan like Nickdawgy - I was 18 and stupid and really wanted a car I shouldn't have been buying - Ford Motor Credit did the loan - but I quickly refinanced from 22% to 6% about 9 months into the loan with my credit union. And I was 18 with no credit whatsoever.I figure he doesn't have to do 20% anymore, but he seems rather nonchalant about the whole thing.

Shazam
04-19-12, 11:41 PM
Don't feel too bad. I just sold a used Focus Titanium to a customer at 24.5% APR and he was happy to get it. MUAHAHAHAHA! I love selling cars.I hope you put some lube in the glove compartment.

DarthVong
04-20-12, 07:39 AM
I hope you put some lube in the glove compartment.

Nope, but I did give him a free car wash. LMAO. I did tell him I could get him a better rate on a new unit, but he wanted the Titanium.

nickdawgy
04-20-12, 09:59 AM
The funny thing is I didn't get any freebies :lol:

You see these people negotiating for free oil changes for a year or car washes for life, and I couldn't even get a free set of all weather floor mats :lol:

Anyhow, I've set up a meeting to meet with the bank this afternoon. We will see what happens about refi'ing.

mike07
04-20-12, 11:15 AM
HOLY SHIT! I guess I'm late to the party here... $536 a month at 20% interest is insane! Take the advice from everyone else and refinance then pay off your car before buying a new one.

I've always paid cash for my cars (not a fan of credit), but if my understanding is correct for trade-in of financed vehicles, all your doing is refinancing what you owe on it PLUS the new car. So why bother, if it's "still new". Refinance through a different bank and pay that crap off.

nickdawgy
04-20-12, 12:17 PM
HOLY SHIT! I guess I'm late to the party here... $536 a month at 20% interest is insane! Take the advice from everyone else and refinance then pay off your car before buying a new one.

I've always paid cash for my cars (not a fan of credit), but if my understanding is correct for trade-in of financed vehicles, all your doing is refinancing what you owe on it PLUS the new car. So why bother, if it's "still new". Refinance through a different bank and pay that crap off.

There's always someone late to the party. I could start a thread about sewing and someone like Deftones would come in and mention I'd "have more money for supplies if I didn't get raped with my car loan."

Then someone comes in and says "HOLY CRAP!!!"

:lol:

Tarantino
04-20-12, 12:53 PM
they make a 20% auto loan? holy shit.

My first car, I had no credit at all...20% interest. Then again, I knew nothing about cars, didn't do any kind of research, and got raped.

Live and learn.

ResIpsa
04-20-12, 01:27 PM
My brother recently bought a new Escape and Ford gave him a zero percent interest loan despite his having something like a 650 credit rating and a foreclosure/tax problems. I didn't believe him at first but he showed me the credit check they ran on him and the loan docs and it was legit. He lives in So Cal, as well. I mentioned this thread to him and he said Honda was going to give him a 9.9% loan for a Civic. Just a data point for reference.

fujishig
04-20-12, 02:22 PM
The funny thing is I didn't get any freebies :lol:

You see these people negotiating for free oil changes for a year or car washes for life, and I couldn't even get a free set of all weather floor mats :lol:

Anyhow, I've set up a meeting to meet with the bank this afternoon. We will see what happens about refi'ing.

Aren't those free oil changes/car washes etc just a way to get you into the dealer? I mean free oil changes sound good until you realize that it takes hours every single time you go there.

DirkUSA
04-20-12, 02:33 PM
Aren't those free oil changes/car washes etc just a way to get you into the dealer? I mean free oil changes sound good until you realize that it takes hours every single time you go there.

Even worse, every time you have an oil change done something else needs to be fixed that wasn't broken before............................

:sad:

Deftones
04-20-12, 02:36 PM
nickdawgy, if you don't want me coming in and making fun of you, you have 2 options:

1. stop doing stupid shit
2. stop making threads about you doing stupid shit.

the choice is yours.

fujishig
04-20-12, 02:47 PM
nickdawgy, if you don't want me coming in and making fun of you, you have 2 options:

1. stop doing stupid shit
2. stop making threads about you doing stupid shit.

the choice is yours.

Speaking of... what happened to that guy who wanted advice about using his car loan to help with his tax deductions? I remember his real question was something about his girlfriend and the car loan, but that tax part stood out...

edited to add: found it, but no updates...
http://forum.dvdtalk.com/other-talk/598409-taxes-can-i-claim-car-purchase-if-i-dont-make-enough-pay.html

and I was mistaken, the question was about the car purchase and taxes and the conversation veered off to the girlfriend. Ah well. Carry on nickdawgy.

DirkUSA
04-20-12, 02:56 PM
Speaking of... what happened to that guy who wanted advice about using his car loan to help with his tax deductions? I remember his real question was something about his girlfriend and the car loan, but that tax part stood out...

He might be behind bars for tax fraud!

:D

RunBandoRun
04-20-12, 04:40 PM
nickdawgy, if you don't want me coming in and making fun of you, you have 2 options:

1. stop doing stupid shit
2. stop making threads about you doing stupid shit.

the choice is yours.

nickdawgy, I know how you feel, bro. I can't even cash a fuckin' check around here and tell about it anymore. :D

nickdawgy
04-21-12, 02:15 AM
nickdawgy, if you don't want me coming in and making fun of you, you have 2 options:

1. stop doing stupid shit
2. stop making threads about you doing stupid shit.

the choice is yours.

How is making a thread about asking about my refi trade in options stupid?

How is me asking about moving out of my apartment stupid?

Watch the insults, please. It's bad enough every fucking thread I make goes back to the damn car loan (because of someone that brings it up, not sure who....hmmm).

The Bus
04-21-12, 08:14 AM
nickdawgy, I know how you feel, bro. I can't even cash a fuckin' check around here and tell about it anymore. :D

As long as you've rectified your views on animation and cul de sacs... ;)

majorjoe23
04-21-12, 09:48 AM
Nope, but I did give him a free car wash. LMAO. I did tell him I could get him a better rate on a new unit, but he wanted the Titanium.

"Thanks for being a good sport about the raping, you can use my shower to clean up."

DarthVong
04-22-12, 09:52 AM
"Thanks for being a good sport about the raping, you can use my shower to clean up."

He must of spidey sensed me talking about him. He showed up yesterday for a wash. LOVES the car!

I told him to look at refinancing it after 18 months when his credit improves. He thanked me and then limped off in his newly washed house payment.

nickdawgy
04-23-12, 03:00 PM
Update:

Refi was denied due to bad credit. It's okay, I didn't plan on refi'ing until next year anyway, so I'll just wait it out.

DirkUSA
04-23-12, 03:11 PM
Update:

Refi was denied due to bad credit. It's okay, I didn't plan on refi'ing until next year anyway, so I'll just wait it out.

Sorry to hear that.

:sad:

nickdawgy
04-23-12, 03:13 PM
No big deal. My credit has gotten better, so I'll wait another 6 months or so and see where I stand then.

Oh and this was with my Credit Union. If someone thinks another place would be easier and possibly approve me, let me know.

Shazam
04-23-12, 03:29 PM
Yeah you've got to look somewhere else. CUs can be a real pain in the ass this way.

msdmoney
04-23-12, 03:35 PM
Ok so you all probably have read my stories about going to the Honda dealer in 2005 and last year to get a new Civic. I had a less than stellar experience (or if you ask Deftones and several others, I got "raped") but ended up with a reliable car.

Now here is my question for this thread. I promise if you guys say "do not do this" I will listen this time. This is more of a "what if" type scenario.

Ok, here we go...

The 2012 Civic EX-L we have now, we owe about 17k on it. It's 11 months old (got it in May 2011) and has about 10k in miles.

My wife and I are looking to expand the family further (scary, I know right?) and also move into a new and bigger place, so we thought about maybe saving money.

We're not in debt (unless you count the car, I guess) and have a steady income, so it's not a huge deal if we don't change anything.

So my question is, if I walked into a dealer this week and showed him the car, looks brand new, even still smells brand new, would he lowball me and offer me like 13k or something? Would there be any way to break even, maybe trade it in, pay the old car off and then look at a 2011 or cheaper 2012 model like a Hyundai or something?

We're paying $536 a month at 20% interest... hold on, pausing for "you got raped" jokes......

Ok, and obviously anything lower would be great. Is this possible? I think my wife said our credit score is right around 600 now, I forget what it was when we got the Civic, had to be lower, right?

The bottom line is if we could trade in the Civic and get something comparable even a year or two older, for a lower monthly payment, it could be worth looking into.

I like the Civic, it's a great car and Honda's have been good to us (knock on wood) so far. But if I do all this and end up with a 2011 model and only paying $10 less a month, it's not worth it.

Thoughts?

Did you pay extra on the car? I'm just surprised the balance is down that far from what I remember in the original thread.

Definitely count your car as debt.

I think your plan is missing the larger picture. Trying to save a little cash each month by trading in or selling the car and getting something just slightly cheaper doesn't get you away from the bigger problem of revolving debt payments at exorbitant interest rates. If you really want to make a big financial leap, get rid of your car and get something you can pay cash for while you repair your credit. A smaller leap would be to focus on getting this refinanced, and paying extra to get rid of your payments faster. I normally think people focus too much on their credit score, but if you are determined to continue financing things, you should do whatever it takes to improve your credit.

Every month paying 20% interest on this depreciating asset is an opportunity lost on investing that money into something for your future.

nickdawgy
04-23-12, 08:04 PM
Did you pay extra on the car? I'm just surprised the balance is down that far from what I remember in the original thread.

Definitely count your car as debt.

I think your plan is missing the larger picture. Trying to save a little cash each month by trading in or selling the car and getting something just slightly cheaper doesn't get you away from the bigger problem of revolving debt payments at exorbitant interest rates. If you really want to make a big financial leap, get rid of your car and get something you can pay cash for while you repair your credit. A smaller leap would be to focus on getting this refinanced, and paying extra to get rid of your payments faster. I normally think people focus too much on their credit score, but if you are determined to continue financing things, you should do whatever it takes to improve your credit.

Every month paying 20% interest on this depreciating asset is an opportunity lost on investing that money into something for your future.

Yeah we paid a little extra but $3,000 came off when I canceled the extended warranty and gap.

Wasn't that what I was asking? How I could get rid of it and get something cheaper? I don't want to drive a 98 Camry or anything, but an older car would be fine.

Everyone here said just keep this car.

RunBandoRun
04-23-12, 08:32 PM
Yeah we paid a little extra but $3,000 came off when I canceled the extended warranty and gap.

Wasn't that what I was asking? How I could get rid of it and get something cheaper? I don't want to drive a 98 Camry or anything, but an older car would be fine.

Everyone here said just keep this car.

The reason you need to keep the car is that you are upside down on it. The only thing to do is keep paying as much on it as you can until you are no longer upside down. THEN you could sell it, but by then you won't get much for your trade. If you try to trade it now you're going to end up in even worse shape after they add this note onto the new car.

RunBandoRun
04-23-12, 08:46 PM
P.S. The next time "your wife really wants" something, think about this thread. You were advised before to buy something you could pay cash for and you didn't do it. Now you have to pay the piper. At least you are lucky in one regard--you have a pretty new vehicle that isn't going to need big repairs like an older car would. But the only way to make a new car worth what you pay for it is to drive it for 7-10 years.

nickdawgy
04-23-12, 09:59 PM
The reason you need to keep the car is that you are upside down on it. The only thing to do is keep paying as much on it as you can until you are no longer upside down. THEN you could sell it, but by then you won't get much for your trade. If you try to trade it now you're going to end up in even worse shape after they add this note onto the new car.

See I don't understand that. You're saying the car isn't worth 17.5? It's barely a year old, no scratches or marks, low mileage, fully loaded with leather and nav...

How can it not be worth at least that amount. If the dealer gave me 9k in trade in for my six year old Civic, you're saying he'd only give me about 5-6k more for a car a fraction of the age? Plus the older car had dents, scratches, a tear on the seat, and 75k miles.

I know a car depreciates, but a 24-25k car is worth 10k less a year later?

Hard to believe. Not trying to be a dick, just explain this to me if I am wrong.

EDIT: I checked KBB (yes I know dealers rarely give full KBB value) and the 2011 model, same features was worth 19k in excellent condition, and even 16k in fair. So there's no way.

My Other Self
04-23-12, 10:04 PM
See I don't understand that. You're saying the car isn't worth 17.5? It's barely a year old, no scratches or marks, low mileage, fully loaded with leather and nav...

How can it not be worth at least that amount. If the dealer gave me 9k in trade in for my six year old Civic, you're saying he'd only give me about 5-6k more for a car a fraction of the age? Plus the older car had dents, scratches, a tear on the seat, and 75k miles.

I know a car depreciates, but a 24-25k car is worth 10k less a year later?

Hard to believe. Not trying to be a dick, just explain this to me if I am wrong.You are wrong. Any vehicle you drive off the lot depreciates the second you take the keys. They sold it to you for $17,500 -- they're not going to pay you what you paid them. And it's now considered an older model. He gave you the $9,000 for your older car as an incentive for you to purchase their newer vehicle at a better price.

You're right in that Civics depreciate the least, but that doesn't mean they don't go down in value at all.

nickdawgy
04-23-12, 10:15 PM
You are wrong. Any vehicle you drive off the lot depreciates the second you take the keys. They sold it to you for $17,500 -- they're not going to pay you what you paid them. And it's now considered an older model. He gave you the $9,000 for your older car as an incentive for you to purchase their newer vehicle at a better price.

You're right in that Civics depreciate the least, but that doesn't mean they don't go down in value at all.

You're right about the incentive to buy. The 9k was the KBB value if the older car was in excellent condition. I expected maybe 7ish.

I know the dealer is looking to lowball anyone, but would he really go and offer me 15k for the car and do it with a straight face?

I'd only trade in if it wiped the slate clean. No way I'd add anything to a new car, let alone a used one.

And yes, I know I added the few thou left on the old car to this one, but I also put 4k down (along with the 6k leftover from the trade in).

My Other Self
04-23-12, 10:29 PM
I know the dealer is looking to lowball anyone, but would he really go and offer me 15k for the car and do it with a straight face?He would probably offer you even less than that with a straight face. More like $13k or so.

GMan2819
04-23-12, 10:32 PM
The dealer will lowball you because he needs enough of a margin to get the car in shape to sell and to make a profit.

My Other Self
04-23-12, 10:34 PM
The dealer will lowball you because he needs enough of a margin to get the car in shape to sell and to make a profit.If they sell it at the lot. It'll go to auction if it doesn't sell. They have to offer based off of that assumption since they need to make money.

nickdawgy
04-23-12, 10:47 PM
That's terrible :lol:

Ok so that doesn't mean I am upside down on the car, right? I could sell it to a provate party if I wanted for probably 18-19k.

GMan2819
04-23-12, 11:01 PM
Ok so that doesn't mean I am upside down on the car, right? I could sell it to a provate party if I wanted for probably 18-19k.
No, you'll get lowballed by private parties as well. They won't ream you as badly as the dealer.

My Other Self
04-23-12, 11:07 PM
Ok so that doesn't mean I am upside down on the car, right? I could sell it to a provate party if I wanted for probably 18-19k.You couldn't possibly think someone would take out a loan to pay that much for a used Civic from a private party.

Have you never bought or sold a car before this?

nickdawgy
04-24-12, 03:20 AM
You couldn't possibly think someone would take out a loan to pay that much for a used Civic from a private party.

Have you never bought or sold a car before this?

Never sold one before....ok well except a shitty Saturn that didn't run in 1998 to a friend for a few hundred bucks.

D.Pham4GLTE (>60GB)
04-24-12, 08:56 AM
Go to carmax and see what they would give you.

DarthVong
04-24-12, 04:08 PM
They sell around 21k new. If it were to come to my dealership with those miles and your payoff I'd probably offer you 15k for it. No way you'll get 17k for it. There would be no profit in reselling from a dealership stand point if you can get brand new for a few grand more.

We just sold one like yours for 18k

DarthVong
04-24-12, 04:15 PM
No big deal. My credit has gotten better, so I'll wait another 6 months or so and see where I stand then.

Oh and this was with my Credit Union. If someone thinks another place would be easier and possibly approve me, let me know.

On average it takes 18 months of paying a car note on time to see improvement on your credit.
Credit Unions are a bitch to get refied on unless you have great credit.

D.Pham4GLTE (>60GB)
04-24-12, 05:40 PM
Don't trust kbb that much. I bought my car for about 20% under kbb. They might give you a good deal on the trade in like last time but they will ream you with no lube on your new one. You paid $27k for a civic, about $24k before ttl. At that price, you could have gotten a decently specd Accord. Let's say you get 17k, that would mean about a $15k car before ttl just to break even. Since your goal is to save money, then maybe a 12k car like the hyundai accent which is a SMALL car. You are then saving maybe 3k, and only if you buy a base model. Are you really that tight on money? I suspect your interest rate would be similar to what you have now.

mndtrp
04-24-12, 11:19 PM
That's terrible :lol:

Ok so that doesn't mean I am upside down on the car, right? I could sell it to a provate party if I wanted for probably 18-19k.

If you want to deal with a bunch of people wasting your time, you could advertise in the usual places for the price you want. If no one buys it, your position hasn't changed. If someone does buy it, you win.

I wouldn't want to deal with all of the people promising to come by, never showing up, or just generally jerking me around.

nickdawgy
04-25-12, 02:38 AM
They sell around 21k new. If it were to come to my dealership with those miles and your payoff I'd probably offer you 15k for it. No way you'll get 17k for it. There would be no profit in reselling from a dealership stand point if you can get brand new for a few grand more.

We just sold one like yours for 18k

So sad :(

On average it takes 18 months of paying a car note on time to see improvement on your credit.
Credit Unions are a bitch to get refied on unless you have great credit.

I always thought the CU was the best place. Weird.

Don't trust kbb that much. I bought my car for about 20% under kbb. They might give you a good deal on the trade in like last time but they will ream you with no lube on your new one. You paid $27k for a civic, about $24k before ttl. At that price, you could have gotten a decently specd Accord. Let's say you get 17k, that would mean about a $15k car before ttl just to break even. Since your goal is to save money, then maybe a 12k car like the hyundai accent which is a SMALL car. You are then saving maybe 3k, and only if you buy a base model. Are you really that tight on money? I suspect your interest rate would be similar to what you have now.

No, I'm not tight on cash. I was just exploring my options.

I used to drive an Accent, they were fine little cars, and this was before Hyundai improved their image/vehicles.

Yeah there's no way I'd let it go for 15k. I'll try and refi again at the end of the year maybe.

I could have sworn the 24k included TTL. I'd have to look at my paperwork again.


If you want to deal with a bunch of people wasting your time, you could advertise in the usual places for the price you want. If no one buys it, your position hasn't changed. If someone does buy it, you win.

I wouldn't want to deal with all of the people promising to come by, never showing up, or just generally jerking me around.

Yeah, too much of a hassle. I'll just keep it.

D.Pham4GLTE (>60GB)
04-25-12, 09:42 AM
You said you owe 17k and that there was no way it dropped 10k in a year. 17+ 10=27.

With that said, just take it to carmax and get a quote. You don't have to sell it on the spot, just to get an idea.